$35.81 Billion in Sales Expected for General Motors (GM) This Quarter
Analysts expect General Motors (NYSE:GM) (TSE:GMM.U) to announce $35.81 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for General Motors’ earnings, with the highest sales estimate coming in at $36.31 billion and the lowest estimate coming in at $35.30 billion. General Motors posted sales of $36.76 billion during the same quarter last year, which would indicate a negative year over year growth rate of 2.6%. The business is expected to report its next quarterly earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that General Motors will report full year sales of $145.86 billion for the current fiscal year, with estimates ranging from $144.50 billion to $147.44 billion. For the next year, analysts forecast that the company will post sales of $144.63 billion, with estimates ranging from $140.45 billion to $146.85 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.32. The company had revenue of $34.88 billion for the quarter, compared to the consensus estimate of $35.56 billion. General Motors had a return on equity of 22.67% and a net margin of 6.26%. General Motors’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 earnings per share.
In other news, Director Wesley G. Bush purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $38.58 per share, for a total transaction of $385,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher Hatto sold 8,499 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $40.00, for a total value of $339,960.00. Following the sale, the vice president now owns 10,040 shares of the company’s stock, valued at approximately $401,600. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of GM. Signet Investment Advisory Group Inc. purchased a new stake in shares of General Motors during the 4th quarter worth $26,000. NuWave Investment Management LLC increased its stake in General Motors by 198.6% in the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 588 shares during the period. Cornerstone Advisors Inc. increased its stake in General Motors by 63.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 346 shares during the period. Advisors Preferred LLC acquired a new position in General Motors in the fourth quarter valued at $31,000. Finally, Liberty Wealth Management LLC acquired a new position in General Motors in the fourth quarter valued at $30,000. Institutional investors own 77.34% of the company’s stock.
NYSE GM traded down $1.11 on Friday, hitting $36.02. 174,635 shares of the company traded hands, compared to its average volume of 9,351,907. The company has a market capitalization of $52.66 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.94. General Motors has a 52-week low of $30.56 and a 52-week high of $45.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.38 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.22%. General Motors’s payout ratio is 23.24%.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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